Somewhere in Africa more than 100,000 years ago, a phenomenon new to the planet was born. A Species began to add to its habits, generation by generation, without (much) changing its genes. What made this possible was exchange, the swapping of things and services between individuals. That gave the Species an external, collective intelligence . . . → Read More: Can Progress be Attributed to Exchange and Specialization?
At 8:30 AM EDT, the Employment Cost Index for the third quarter of 2010 will be announced. The consensus is an increase of 0.5%, which is the same as the second quarter of 2010.
Also at 8:30 AM EDT, the advance GDP report for the second quarter of 2010 will be announced. The consensus . . . → Read More: Economic Events on October 29, 2010
The economic and financial crisis of 2008/2009 hit Ireland heavily. The asset price bubble and the subsequent deflation have added to the uncertain macroeconomic outlook. How did the country went from the times of the “Irish miracle” to the prolonged economic slowdown? Following the beginning of the 2008/2009 economic and financial crisis, Ireland was . . . → Read More: The Economic Future of Ireland
At 8:30 AM EDT, the U.S. government will release its weekly Jobless Claims report. The consensus is that there were 455,000 new jobless claims last week, which would would be 3,000 more than last week’s number, which was unexpectedly low.
At 10:30 AM EDT, the weekly Energy Information Administration Natural Gas Report will be . . . → Read More: Economic Events on October 28, 2010
Popular wisdom has it that markets are always right or, more appropriately; that if you find your self on the wrong side of the market consensus the best cause of action is to join the ranks less you want to be rolled over by a steamroller. However, it may take some time before the . . . → Read More: Has the Market Finally Gotten it on the Eurozone Periphery?
The `lemons model’ in milk procurement
One of the classic stories of India of old is that of Amul, which brought new technology into milk procurement. When the farmer brought his shipment of milk to the Amul front-end, a centrifuge was used to measure the characteristics of this shipment, and based on this payments . . . → Read More: Better Living Through Economics
The Mortgage Bankers’ Association purchase index was released at 7:00 AM EDT, and there was a week to week increase of 3.9% in the Purchase Index and a week to week increase of 3.0% in the Refinance Index as interest rates remain near record lows.
At 8:30 AM EDT, the Durable Goods Orders report . . . → Read More: Economic Events on October 27, 2010
I had a big long rambling post on general parking/pension issues, but it just isn’t in me to post. Reading about the latest round of rumblings on the fifth floor had be wondering how we wound up in this state. Council-mayor relations have occasionally been bad in the past. Intra-council relations have sometimes gone . . . → Read More: Pension Parking Parsing
In reading this article in the Wall Street Journal by By Rebecca Thurlow, Alison Tudor And P. R. Venkat about the potential merger of SGX with ASX, I saw this interesting cross-country comparison of exchange charges (in basis points):
Country Trading and clearing Taxes Singapore 4.75 0 Hong Kong 1.1 20 Taiwan 0.75 30 . . . → Read More: A Cross-Country Comparison of Charges of Exchanges